AeroVironment downgraded to Hold from Buy at Benchmark Co. Benchmark downgraded AeroVironment to Hold ahead of the Q1 report based on rich valuation and expectations FY15 guidance could be weaker than expected given lower US Department of Defense , cancellation of the State Department program and Switchblade visibility. Price target lowered to $30.
AeroVironment awarded contracts totaling $47.1M by U.S. Army AeroVironment announced receipt since May 1, 2015 of ten orders from the United States Army totaling $47.1M for RQ-11B Raven and RQ-20A PumaAE unmanned aircraft systems sustainment. This total value includes seven orders awarded on July 23 totaling $35.2M.